Union Budget 2025-26

• The tax slabs and rates will be revised across the board to benefit all taxpayers. 

• The new structure will significantly reduce taxes for the middle class.

• A 'Nil tax' slab will be introduced up to ₹12 Lakhs ( ₹12.75 Lakhs for salaried taxpayers with a standard deduction of ₹75,000).

12:10 PM:

• No income tax up to ₹12 Lakhs:  Zero tax slab till ₹12 Lakh salary under New Tax Regime

12:00 PM:

• Direct Tax – Part A: The new Income Tax Bill will be designed to be simple and easy to understand.

• Personal Income Tax: The focus will be on improving the middle class.

• TDS will be reduced, and the threshold amount will be revised.

• The interest for senior citizens will be increased from ₹50,000 to ₹1,00,000.

• The annual TDS on rent limit will be raised from ₹2.4 Lakhs to ₹6 Lakhs.

• TDS on education loans will be removed.

• Both TDS and TCS will apply on the sale of goods.

• A provision for higher TDS deduction will be made for cases without a PAN.

• The delay in filing for TCS provision will be decriminalised.

11:55 AM:

• Pharma companies will be exempt, provided the medicines are offered free of cost. 36 lifesaving drugs and medicines would be added to the list of medicines fully exempted from Basic Customs Duty.

• Additionally, 37 more medicines and 13 new patient assistance programmes would be fully exempted from Basic Customs Duty. 

11:53 AM:

• The fiscal deficit for FY25 is projected at 4.8%, while the estimated fiscal deficit for FY26 is 4.4%.

11:52 AM:

• The Jan Vishwas Bill 2.0 will be introduced to decriminalise over 100 provisions. An investment-friendly index of states will also be launched in 2025.

11:50 AM:

• Government will announce a new Income Tax Bill next week.

• FDI limit for insurance sector to be increased to 100%.

11:49 AM:

• Bharat Trade will be established as an international platform for unified trade.

• A Unified Logistics Platform will be set up to streamline logistics processes.

• Efforts will be made to develop the domestic manufacturing economy.

11:48 AM:

• A Geo-Spatial Mission and infrastructure development will be undertaken using PM Gati Shakti, focusing on modernisation and expansion.

• A National Repository will be set up to facilitate knowledge sharing.

• An Export Promotion Mission will be launched to target external markets, incorporating MSME and finance sectors, with easier access and non-tariff measures.

11:47 AM:

• Medical tourism will be promoted through partnerships with the private sector, with easier visa access.

• An allocation of ₹20,000 Crores will be made for the development of next-gen startups.

• 10,000 fellowships will be provided for tech research in IITs and IICs.

11:45 AM:

• Public-Private Partnerships (PPPs) and project planning will be furthered, with private sectors gaining access to maps.

• Top 50 tourist destinations will be developed, with hotels included in the initiative.

• Mudra loans will be made available for home stays.

• Hotel management employment opportunities will be promoted.

• Performance-linked incentives will be introduced to drive growth.

• Visa-free access will be granted for select tourist groups.

11:42 AM:

• The government will launch a modified UDAN scheme to connect 120 destinations, aiming to accommodate 4 crore additional passengers over the next 10 years.

• Affordable and mid-income housing will be provided with 40,000 units in 2025, allowing individuals to pay rent for their current homes while moving into new apartments.

11:41 AM:

• The Maritime Development Fund will have a corpus of ₹25,000 Crores, aimed at distribution and setting up competition within the maritime sector.

11:40 AM:

• Ship building to be enhanced to promote economy. Large ships to be included.

11:38 AM:

• A three-year pipeline of projects will be developed through public, private, and partner infrastructure, with ₹1.5 Lakh Crores allocated for interest-free loans for capital expenditure.

• 15 crore households will receive tap water connections, with the initiative extended until 2028 and an enhanced total outlay.

• Electricity distribution reforms will be implemented for intra-state electricity systems.

• The Nuclear Energy Mission aims to generate 100 GW of energy by 2047.

• The Atomic Energy Act will be addressed.

• A small modular reactor project worth ₹20,000 crore will be set up and operational by 2033.

11:35 AM:

• 10,000 additional seats in medical colleges and 75,000 seats in the next 5 years. 

11:34 AM:

• Global skilling partnerships to position India as a major player in global manufacturing. 

• Infrastructure will be expanded in IITs established after 2015, accommodating an additional 6,500 students across five IITs.

• Furthermore, a Centre of Excellence for AI in Education will be set up with an allocation of ₹500 Crores.

• A Centre of Excellence in AI for Education has been announced, joining the three previously announced centres for agriculture and health. This new centre will receive an allocation of ₹500 crore.

11:32 AM:

• Broadband will be provided to all government secondary schools.

• The Bhartiya Bhasha Pustak Scheme will focus on making Indian language books available for schools and higher education.

• A National Centre of Excellence will be established, with 5 sectors announced to boost 'Make for India' and 'Make for the World' initiatives.

11:30 AM:

• The Saksham Anganwadi and Poshan 2.0 programs will offer essential nutritional support to 8 crore children, 1 crore mothers, and 20 lakh adolescent girls.

11:26 AM:

• Support will be provided for food processing, with the establishment of the National Institution of Food Technology and Entrepreneurial Support in Bihar, benefiting the entire eastern region.

• Efforts will be made to add value for farmers and create skill development opportunities for the youth.

• The National Manufacturing Mission will be launched to further boost the "Make in India" initiative.

11:24 AM:

• The government will implement a policy aimed at improving the quality and production of leather and footwear, which is expected to benefit 22 lakh people.
• India is set to become a global hub for toys, with a manufacturing ecosystem for toys being established.

11: 23 AM:

• A new program has been introduced to provide term loans with a five-year duration, aimed at benefiting 5 lakh women from SC/ST communities.

11:20 AM:

• Increased financial support for Micro and Small Enterprises to ensure better access to credit.

• Loan coverage doubled from ₹10 Crores to ₹20 Crores, with a 1% processing fee for eligible startups.

• Customised Credit Cards for MSMEs to be presented.

11:17 AM:

• India Post to be transformed into a large logistical organisation.

• Over 1 Crore MSMEs contributing 38% of total production in India.

• MSME export contribution responsible for 45% of total exports, showcasing their crucial role in the economy.

• Focus on modernisation and digital adoption to enhance productivity and competitiveness.

11:15 AM:

• The government introduces the 5F vision to enhance the textile sector, ensuring sustainable growth.

• Measures to boost agricultural earnings and improve the financial well-being of cotton farmers.

• Initiatives to maintain a consistent raw material supply, supporting weavers and textile industries.

• 7-7.5 Crore farmers to benefit from short-term loans through Textile Credit Cards, improving access to financial resources.

• The government plans to increase urea availability by 12.7 Lakh Metric Tons in Assam, supporting agricultural productivity.

11:11 AM:

• Next 5 years present a unique opportunity to achieve Sabka Vikas, fostering balanced growth across all regions.

11:09 AM:

• A holistic initiative to be planned for fruits and vegetables to meet the growing demand and rising consumption trends.

• Farmers cultivating makhana will now be eligible for benefits under all government schemes. 

• Strengthen research, seeds, high-yield farming, to cover over 100 seed varieties 

• Seafood export valued at 60,000 Crores 

11:06 AM: 

• Focus 1 of Budget- Agriculture Sector. 

• Dhan Dhyana Yojana program will cover 100 districts with low productivity, promote crop diversification, improve irrigation areas.  

• Ample opportunities to be generated in rural areas for migration.

• Focus on young farmers and landless families.

11:04 AM:

• Budget focus on 6 main domains- Taxation, Power Sector, Urban Development, Mining, Regulatory Reforms Agriculture and Financial Sector. In this Budget, the proposed development measures span 10 broad areas, focussing on the poor, youth, farmers and women.